Axis Bank

₹1145 3.6 | 0.3%

WEBSITE BSE:532215 NSE : AXIS BANK 18 May, 12:50

Market Cap ₹353663 Cr.

Stock P/E 13.4

P/B 2.4

Current Price ₹1145

Book Value ₹ 486.4

Face Value 2

52W High ₹1182.8

Dividend Yield 0.09%

52W Low ₹ 909.5

Edit Ratio

Axis Bank Research see more...

Equity Research: Axis Bank

Equity Research Report: Axis Bank-Q4FY23

Equity Research Report: Axis Bank

Equity Research: Axis Bank Ltd

Overview Inc. Year: 1993Industry: Bank - Private

Axis Bank Limited (the Bank) gives commercial banking operations for retail and corporate customers. The Bank's segments consist of Treasury, Retail Banking, Corporate/Wholesale Banking and Other Banking Business. Its Treasury operations consist of investments in sovereign and company debt, equity and mutual funds, trading operations, derivative buying and selling and forex operations on the proprietary account and for clients. Its Retail Banking constitutes lending to individual people/small companies and activities include legal responsibility products, card services, Internet banking, mobile banking and financial advisory offerings, among others. Its Corporate Banking includes company relationships not covered under Retail Banking, company advisory offerings, placements and syndication, venture value determinations, capital market associated services and cash management services. Its Other Banking Business includes para banking activities, such as third party product distribution and banking transactions.

Axis Bank Share Price

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Peer Comparison

Axis Bank Quarterly Results

#(Fig in Cr.)	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Interest Earned	11168	11052	11235	11722	11771
Other Income	3013	3000	2586	2593	2789
Total Income	14181	14052	13821	14315	14560
Interest Expense	6440	6436	6695	6990	7041
Operating Expenditure	3367	3325	3348	3471	3847
Provisions and contingencies	2581	2342	3140	2811	7180
Operating Profit	1793	1949	637	1043	-3507
Profit Before Tax	1793	1949	637	1043	-3507
Provision for Tax	568	644	205	316	-1319
Profit After Tax	1225	1306	432	726	-2189
Adjustments	-1225	-1306	-432	-726	2189
Profit After Adjustments	0	0	0	0	0
Adjusted Earnings Per Share	5.1	5.4	1.8	2.8	-8.5

Axis Bank Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Interest Earned	27183	30641	35479	40988	44542	45780	54986	62635	63346	67377	85164	45780
Other Income	6551	7405	8365	9371	11691	10967	13130	15537	12264	15221	16501
Total Income	33734	38046	43844	50360	56233	56747	68116	78172	75610	82597	101665	56748
Interest Expense	17516	18690	21254	24155	26449	27163	33278	37429	34107	34245	42218	27162
Operating Expenditure	6914	7901	9204	10101	12200	13990	15833	17305	18375	23611	39656	13991
Provisions and contingencies	1750	2107	2328	3710	12117	15473	12031	18534	14322	7359	2885	15473
Operating Profit	7553	9349	11058	12394	5468	122	6974	4904	8806	17383	16906	122
Profit Before Tax	7553	9349	11058	12394	5468	122	6974	4904	8806	17383	16906	122
Provision for Tax	2374	3131	3700	4170	1788	-154	2297	3277	2217	4357	7326	-154
Profit After Tax	5179	6218	7358	8224	3679	276	4677	1627	6589	13025	9580	275
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-275
Profit After Adjustments	5179	6218	7358	8224	3679	276	4677	1627	6589	13025	9580	0
Adjusted Earnings Per Share	22.1	26.5	31	34.5	15.4	1.1	18.2	5.8	21.5	42.4	31.1	1.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	26%	11%	13%	12%
Operating Profit CAGR	-3%	51%	168%	8%
PAT CAGR	-26%	81%	103%	6%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	25%	17%	8%	12%
ROE Average	8%	9%	7%	10%
ROCE Average	9%	8%	8%	10%

Axis Bank Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	33108	38220	44677	53165	55763	63445	66676	84948	101603	115174	125417
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Deposits	252614	280945	322442	357968	414379	453623	548471	640105	697985	821972	946945
Borrowings	43951	50291	79758	108580	105031	148016	152776	147954	142873	185134	186300
Other Liabilities & Provisions	10888	13789	15056	20108	26295	26245	33073	42158	44336	53149	58664
Total Liabilities	340561	383245	461932	539821	601468	691330	800997	915165	986798	1175429	1317326
Cash and balance with RBI	14792	17041	19819	22361	30858	35481	35099	84959	51809	94035	66118
Bank Balance	5643	11197	16280	10964	19398	7974	32106	12309	9921	16953	40293
Investments	113738	113548	117550	131524	128793	153876	174969	156734	226120	275597	288815
Advances	196966	230067	281083	338774	373069	439650	494798	571424	614399	707947	845303
Fixed Assets	2231	2311	2413	3316	3466	3626	3764	3839	4135	4363	4597
Other Assets	7067	8981	24686	32675	45602	50377	59988	85425	80304	76325	72063
Total Assets	340561	383245	461932	539821	601468	691330	800997	915165	986798	1175429	1317326

Axis Bank Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	13934	20435	28239	36099	33325	50256	43455	67205	97268	61730	110987
Cash Flow from Operating Activities	2719	16703	-16708	-19183	34192	-46949	37567	29613	13583	33951	26902
Cash Flow from Investing Activities	-11160	-14247	-4204	-5436	-12630	-10244	-18737	-9767	-54107	-27352	-33022
Cash Flow from Financing Activities	14775	5490	28846	21883	-4629	50401	4931	10118	5059	42538	1239
Net Cash Inflow / Outflow	6333	7945	7934	-2736	16933	-6793	23762	29964	-35466	49137	-4881
Closing Cash & Cash Equivalent	20435	28239	36099	33325	50256	43455	67205	97268	61730	110987	106411

Axis Bank Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	22.14	26.47	31.04	34.51	15.36	1.07	18.19	5.77	21.5	42.43	31.13
CEPS(Rs)	23.64	28.02	32.75	36.38	17.49	3.29	20.95	8.51	24.6	45.72	73.69
DPS(Rs)	3.6	4	4.6	5	5	0	1	0	0	1	1
Book NAV/Share(Rs)	141.5	162.69	188.47	223.12	232.83	247.2	259.27	301.05	331.63	374.71	406.24
Yield on Advances	13.8	13.32	12.62	12.1	11.94	10.41	11.11	10.96	10.31	9.52	10.07
Yield on Investments	7.33	7.64	8.03	7.9	9.94	7.35	6.92	8.56	6.57	5.71	6.41
Cost of Liabilities	5.91	5.64	5.28	5.18	5.09	4.51	4.75	4.75	4.06	3.4	3.73
NIM (Net Interest Margin)	2.92	3.21	3.27	3.34	3.28	2.92	2.95	3.05	3.24	3.03	3.46
Interest Spread	7.89	7.68	7.34	6.92	6.85	5.9	6.37	6.21	6.25	6.12	6.35
ROA(%)	1.65	1.72	1.74	1.64	0.64	0.04	0.63	0.19	0.69	1.2	0.77
ROE(%)	18.53	17.43	17.75	16.81	6.76	0.46	7.19	2.15	7.06	12.03	7.98
ROCE(%)	15.01	15.2	14.25	12.59	7.61	4.36	7.68	5.73	6.86	9.16	8.95
PER(x)	11.76	11.04	18.05	12.88	31.95	474.26	42.68	65.77	32.43	17.93	27.57
Price/Book(x)	1.84	1.8	2.97	1.99	2.11	2.06	2.99	1.26	2.1	2.03	2.11
Dividend Yield(%)	1.38	1.37	0.82	1.12	1.02	0	0.13	0	0	0.13	0.12
EV/Net Sales(x)	3.86	3.88	5.99	5.23	5	6.09	6.41	4.07	5.63	6.21	5.29
EV/Core EBITDA(x)	11.27	10.38	15.88	13.32	12.66	17.88	18.54	10.88	15.42	16.92	22.76
Interest Earned Growth(%)	23.59	12.72	15.79	15.53	8.67	2.78	20.11	13.91	1.14	6.36	26.4
Net Profit Growth	22.09	20.05	18.34	11.77	-55.26	-92.51	1596.38	-65.21	304.89	97.7	-26.45
Advances Growth	16.03	16.81	22.17	20.52	10.12	17.85	12.54	15.49	7.52	15.23	19.4
EPS Growth(%)	7.81	19.56	17.27	11.19	-55.49	-93.01	1593.07	-68.29	272.91	97.31	-26.62
Loans/Deposits(x)	17.4	17.9	24.74	30.33	25.35	32.63	27.85	23.11	20.47	22.52	19.67
Cash/Deposits(x)	0.06	0.06	0.06	0.06	0.07	0.08	0.06	0.13	0.07	0.11	0.07
Current Ratio(x)	0.45	0.4	0.36	0.37	0.31	0.34	0.32	0.24	0.32	0.34	0.3
Quick Ratio(x)	17.4	17.9	24.74	30.33	25.35	32.63	27.85	23.11	20.47	22.52	19.67
CASA %	44.38	45.01	44.78	47.34	51.41	53.76	44.38	41.2	45.52	45.01	47.16

Axis Bank Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	9.5	9.49	9.49	9.48	7.98	7.96	7.95	7.95	7.94	7.93
FII	46.4	45.94	45.55	45.16	48.18	47.86	50.48	51.22	52.92	51.96
DII	29.55	29.85	30.77	31.59	30.7	31.23	29.04	28.05	27.9	29.08
Public	12.36	12.46	11.98	11.7	10.56	10.54	9.62	9.43	8.02	7.54
Others	2.19	2.26	2.21	2.07	2.58	2.42	2.91	3.35	3.22	3.48
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	29.14	29.14	29.14	29.14	24.55	24.49	24.49	24.49	24.49	24.49
FII	142.34	141.01	139.9	138.74	148.14	147.26	155.48	157.86	163.19	160.39
DII	90.65	91.64	94.52	97.05	94.41	96.09	89.42	86.44	86.06	89.76
Public	37.92	38.24	36.79	35.94	32.46	32.42	29.62	29.07	24.73	23.29
Others	6.72	6.94	6.79	6.37	7.93	7.44	8.97	10.32	9.93	10.74
Total	306.77	306.97	307.14	307.23	307.5	307.69	307.97	308.18	308.4	308.66

Pros

Company has delivered good profit growth of 103% CAGR over last 5 years

Cons

Promoter holding is low: 7.93%.
Company has a low return on equity of 9% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Axis Bank

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Axis Bank Research see more...

Overview Inc. Year: 1993Industry: Bank - Private

Axis Bank Share Price

Alert Data

Quarterly Price

Peer Comparison

Axis Bank Quarterly Results

Axis Bank Profit & Loss

Growth Rates

Axis Bank Balance Sheet

Axis Bank Cash Flow

Axis Bank Ratios

Axis Bank Shareholding Pattern

Axis Bank News

Top Unlisted Companies & InstaBuy Companies

IPO

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